Mtechtips MCX-SX GBPINR INTRADAY trading analysis 09-08-2018

MTECHTIPS:- Pound is weakening against Indian Rupee .Currently Pound is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . In last few days volume based selling happened in the Pound. The GBPINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is showing SELL signal For short term Pound is in SELL position and closed below 1 month low with volume signals down breakout.Positionally Immediate support for GBPINR is 88.25.Resistance for the GBPINR is 89.67-90.33-90.38-90.73-90.78-91.17-91.49- In medium term Pound is relatively strengthening against Euro- Dollar- In long term Pound is relatively strengthening against Euro- Dollar- Yen- Short term and Intraday Level of Pound with Rupee GBPINR and closed below 1 week low with volume signals down breakoutCurrently GBPINR is in HOLD SHORT position The GBPINR is in downtrend For short term buy only if close above 89.413 The GBPINR is now trading is approaching oversold level. The GBPINR is now trading is approaching oversold level. The oscillator is showing SELL signal Intraday Trend- Sell if open below 88.213 with stop loss at 88.988 or sell below 88.004 Buy only above 89.198

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